Digital assets: SG-FORGE sets liquidity provision for its MiCA-compliant stablecoin

Societe Generale-FORGE (SG-FORGE) has partnered with Keyrock, a market maker to strengthen liquidity for its CoinVertible EURCV digital asset and ‘bolstering stability, scalability and accessibility across the digital finance landscape’. The partnership leverages Keyrock’s market-making infrastructure and expertise to support liquidity for CoinVertible EURCV, a stablecoin fully compliant with the European Union’s Markets in Crypto-Assets (MiCA) regulation.

This collaboration is expected to facilitate ‘smoother transactions, increased liquidity depth, and consistent pricing, ultimately making CoinVertible EURCV a more attractive choice for users and institutional participants across a wide range of trading platforms’. It marks a significant step toward SG-FORGE’s vision of making secure and compliant digital assets more accessible to the market, according to Guillaume Chatain, chief revenue officer at SG-FORGE.

‘We believe that liquidity is the lifeblood of any successful digital asset, particularly for stablecoins that serve as bridges between fiat and crypto ecosystems. By joining forces with Societe Generale-FORGE, we’re advancing our shared vision for a mature, liquid, and regulatory-compliant digital asset environment in Europe and beyond,’ said Kevin De Patoul (pictured), CEO of Keyrock.

Margarita secures US$1m, aims at on-chain structured products

Margarita Finance, a Solana-based platform for structured investment products, has raised US$1 million in pre-seed funding ‘to bring the US$7 trillion structured products market onchain’.

The funding round was led by early-stage venture firms such as Tomahawk VC and Outrun Ventures, alongside Swiss-based family office N & V Capital and market maker G-20 Group. The company also received a grant from the Solana Foundation.

Margarita Finance is seeking to leverage Solana’s high-speed blockchain, smart contracts, and oracles to streamline investment processes ‘traditionally hindered by high fees, slow settlements, and restrictive entry barriers’. Its flagship product, Yield Boosters, offers double-digit yields on Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) with lock-up periods ranging from one day to three months.

‘Our goal is to onboard the other 99% of global potential investors into onchain structured products,’ said Benedikt Schuppli (right), co-founder of Margarita Finance. ‘Of the one billion potential investors worldwide, only 10 million currently use DeFi. By blending the legal enforceability of traditional finance (TradFi) with blockchain innovation, we aim to unlock opportunities for everyone.’

The platform, launched in 2024, builds on the expertise of the team that previously developed Obligate, an onchain debt capital markets platform.

DeFi derivatives protocol Cega to sunset platform following acquisition

Cega Finance, a DeFi protocol that offers structured investments and exotic options strategies, announced it has been acquired by a 'leading protocol’ and will sunset its platform by the end of the year. 

The acquirer has chosen to remain private, according to the firm. Cega, which operates across Solana, Ethereum, and Ethereum Layer 2 network Arbitrum, claims to be the first to bring exotic options to DeFi with its initial Solana launch in June 2022.

‘Cega’s original vision was to build the next evolution in DeFi derivatives. Today, we are excited to announce that we’ve been acquired by a leading platform to continue driving this vision forward,’ the protocol’s X account posted last week. ‘Our team is immensely proud to have been the first to bring exotic options to DeFi, to have processed half a billion in volume, and to safely protect user funds for 3 years.’

Cega's platform is no longer accepting deposits, and the protocol urged users to begin withdrawals as the protocol's products will sunset by the end of the year. The firm did not disclose which "leading platform" is acquiring the DeFi protocol or for how much.

 When Cega raised $5 million in new funding in March 2023, its valuation was somewhere north of US$60m. However, Cega co-founder and CEO Arisa Toyosaki (right) has declined to comment on the exact valuation.

Valour rolls out 20 new digital asset ETPs on Spotlight Stock Market

 ETP issuer Valour has launched 20 new digital asset-linked ETPs on the Spotlight Stock Market in Stockholm, Sweden, boosting its total ETP listing to 60 across European markets.

The newly-listed ETPs track the price of various altcoins, consisting of Sei (SEI) ETP, Worldcoin (WLD) ETP, Aptos (APT) ETP, ASI (FET) ETP, Render (RENDER) ETP, Aerodrome Finance (AERO) ETP, Arweave (AR) ETP, Injective (INJ) ETP, Aave (AAVE) ETP, Pendle (PENDLE) ETP, Fantom (FTM) ETP, Kaspa (KAS) ETP, Pyth Network (PYTH) ETP, Jupiter (JUP) ETP, Lido DAO (LDO) ETP, Wormhole (W) ETP, THORChain (RUNE) ETP, Akash Network (AKT) ETP, Starknet (STRK) ETP, and Metis (METIS) ETP.

Having met its goal of increasing its ETP offerings to more than 50 by year-end, the issuer said it's set its sights on a ‘loftier target’ of 100 ETPs by the close of 2025. ‘By simultaneously introducing such a diverse range of innovative products, we are not merely expanding our portfolio – we are offering investors access to the forefront of blockchain technology,’ Johan Wattenström (right), co-found at Valour, said in the statement.

 The launch came after it introduced a physical yield-bearing Bitcoin ETP last month. In March, the digital asset ETP issuer licensed the STOXX Digital Asset Blue Chip X index as an underlying for an ETP listed on the Frankfurt Stock Exchange.

CoinShares Physical Bitcoin becomes Europe's largest Bitcoin physical ETP 

CoinShares said its physical Bitcoin ETP (BITC) has become the top European Bitcoin physical exchange-traded product (ETP) by assets under management (AuM). Launched in January 2021, the ETP has hit over US$1.4 billion in AuM as of 16 December.

The asset manager attributed the rising AuM coinciding with Bitcoin recently reaching the historic price of US$100,000. The ETP is available for trading in Switzerland, France, Netherlands, and Germany. Its total expense ratio amounts to 0.35% p.a.

With the combined AUM of CoinShares Physical Bitcoin and CoinShares XBT Provider Bitcoin products, CoinShares said it manages a total of over US$5.4 billion in Bitcoin in Europe as of 5 December. In February, the firm implemented a 1.25% p.a. staking yield in its Physical Ethereum ETP. 

---

Do you have a confidential story, tip or comment you’d like to share? Contact Us | SRP (structuredretailproducts.com)